Mr. Pascal Hamelin reports

ABCOURT ANNOUNCES ITS RESULTS FOR THE SECOND QUARTER ENDED DECEMBER 31, 2023

Abcourt Mines Inc. has released its results for the three months ended Dec. 31, 2023. The financial statements and management report are available on SEDAR+.

Highlights for the quarter ended Dec. 31, 2023:

• Investments of $1,571,293 in exploration and evaluation during the quarter ended Dec. 31, 2023;
• Cash of $1,251,445, compared with $963,974 as of June 30, 2023;
• Working capital of the company of ($4,611,593) compared with ($4,476,223) as of June 30, 2023;
• During the quarter, Abcourt completed a private placement; the company issued a total of 64,503,750 units at a price of four cents consisting of one common share and one warrant for total gross proceeds of $2,580,150;
• On Nov. 22, 2023, the company announces the start-up of the Sleeping Giant mill and the processing of the first tonnes from the Pershing-Manitou deposit;
• On Nov. 27, 2023, the company announces the conclusion of an agreement with a Canadian insurance company to provide bonds to the government of Quebec in accordance with the requirements according to the restoration plans approved by the government of Quebec for environmental obligations for Elder and Sleeping Giant mine sites totalling $5,867,786; pursuant to the agreement, the company provided a letter of credit secured by a cash guarantee of $2,933,893 and the payment of an annual premium.

About Abcourt Mines Inc.

Abcourt is a Canadian gold exploration corporation with properties strategically located in northwestern Quebec, Canada. Abcourt owns 100 per cent of the Sleeping Giant mill and mine, where it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental certificates of authorization, to extract up to 750 tonnes per day from its underground mine.

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